Author Question: If the price level in the United States increases, domestic goods will become relatively more ... (Read 42 times)

CQXA · **on:** Jun 30, 2018

If the price level in the United States increases, domestic goods will become relatively more expensive than foreign goods. Consumers will import more and reduce the quantity of domestic goods and services they buy.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following is a valid difference between sole proprietorship and partnership?
a. Partnerships require a written agreement while sole proprietorships do not.
b. Partnerships require a state charter while sole proprietorships do not.
c. Partnerships generate lower profits than sole proprietorships.
d. Partnerships are characterized by unlimited liability, while sole proprietorships are not.
e. Partnerships consist of two or more partners sharing the responsibility of the firm, while sole proprietorship consists of a single individual.